Additional Information Regarding the New Banknote Series

07/08/2013
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Banknotes and coins

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The Bank of Israel’s requirements regarding the design and technical details of the new banknote series are uncompromising.  These requirements have been set in order to assist the public in identifying the security measures in the series, and to assure that counting and vending machines available in the market have the ability to read and identify the banknotes.  Due to the strict requirements in place, the process of issuing the new banknotes is prolonged.  It takes about seven months to print the minimum batch of banknotes necessary to begin circulation.

In order to achieve optimal quality, the circulation of the first two banknotes—the NIS 50 and NIS 200 denominations—will be delayed by several months, and is expected to begin during the second half of 2014.  The circulation of the two other denominations—the NIS 20 and NIS 100—will begin a few months thereafter.  The Committee for the Planning of Banknotes, Coins and Commemorative Coins headed by Judge Jacob Turkel has been continuously and closely accompanying the design process.

In the coming months, the Bank of Israel will provide banks and manufacturers of vending, counting and sorting machines with samples of the new banknotes, in order to enable them to calibrate the machines for receiving the new banknotes.  In addition, the Bank of Israel will provide the public with extensive information regarding the security features that are integrated in the banknotes, and the process of changing over from the old to the new banknotes.

The issuance of the new banknotes will be accompanied by the dissemination of extensive information to the public in five languages and in several media channels accessible to the entire public.

The current banknotes will continue in use as legal tender for a few years, and the public will be given an additional interval of several years to exchange the current banknotes for new ones.